The price of uranium has increased by 90% in 12 months, surpassing its cost in 16 years. Shutting down a nuclear power plant is costly and time-consuming, with daily costs reaching $1 million. However, the demand for uranium is rising due to the need for low-carbon power sources. Countries like France and the UK are reconsidering nuclear energy and expanding capacity. The global uranium supply is facing a deficit, with a shortage of enriched uranium as well. Hedge funds, ETFs, governments, and utilities are all vying for uranium, leading to price increases in the market.
| UPDATED: 08:51, Sun, Jan 10, 2021
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Prime Minister Boris Johnson s hopes of securing a post-Brexit free trade agreement with the US could be dashed as President-elect Joe Biden prepares to enter the White House. The Democrat has long been a critic of the UK s decision to leave the EU, warning in 2016 that US interest in Britain could diminish as a result of Brexit. Mr Biden has also spoken of his Irish ancestry, signalling that a new special relationship could emerge across the Atlantic.